Prairie Operating Co. (PROP): Results of Operations and Financial Condition
Prairie Operating Co. (PROP) filed an SEC Form 8-K — Results of Operations and Financial Condition. EX-99.1 2 ef20079578_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Prairie Operating Co. Announces Second Quarter 2026 Results Houston, Texas, August 17, 2026 (GLOBE NEWSWIRE) — Prairie Operating Co. (Nasdaq: PROP) (the “Company,” “Prairie,” “we,” “our,” or “us”) – an independent energy c
How this was made
The 30-second read
Why it matters
The disclosure updates traders on production volumes and mix, revenue and profitability, capital spending and operating cash flow, and provides risk-management context via an active hedging program through 2Q 2029. It also highlights drilling execution improvements (below AFE, first three-mile lateral, smaller-hole design trials).
Market read
Fresh quarterly results plus execution and hedging details can re-rate the stock’s near-term cash-flow outlook and perceived execution risk.
What to watch
Capex is high ($98.5M) versus operating cash flow ($52.0M), so free-cash-flow timing and balance-sheet liquidity may matter more than earnings for near-term positioning.
Background
SEC Form 8-K Item 2.02 reporting Prairie Operating Co.’s second quarter 2026 results and operational update for the quarter ended June 30, 2026.
Ticker impact
Prairie Operating Co. reported Q2 2026 revenue of $98.9M, net income of $193.8M, and Adjusted EBITDA of $34.0M in its 8-K.
Likely positive bias for the stock on earnings-quality and execution, with follow-through dependent on commodity prices and continued below-AFE drilling.
This is a primary-source quarterly results disclosure with multiple hard datapoints (production, revenue, net income, capex, operating cash flow) and additional forward-looking risk management (hedging through 2Q 2029) plus execution claims (below AFE, first three-mile lateral).
Market effects
Adds another data point on DJ Basin operator execution and cost discipline, which can influence sentiment toward small/mid-cap US E&Ps.
Reinforces activity and drilling performance expectations for Colorado DJ Basin operators.
Limited direct global linkage beyond incremental US natural gas and oil supply sentiment.
Counterpoint
Net income and realized pricing can be influenced by derivatives and accounting; traders may discount headline profitability if cash flow conversion or hedging economics are less favorable than implied.
Key entities
- public_companyPrairie Operating Co.
Nasdaq-listed independent energy company focused on oil, natural gas, and NGL development and acquisition in the Denver-Julesburg Basin.
- corporate_actionSeries F Preferred Stock refinancing
Partial refinancing in April reduced outstanding balance and lowered warrant-related dilution, extending the Anniversary warrant date to Aug 31, 2026.
- risk_managementCommodity hedging program
Active hedging securing commodity price protection through the second quarter of 2029.
